An aerial view of a recently sold development site at 1287 Route 35 in Middletown — Courtesy: Jeffery Realty
By Joshua Burd
A developer has closed on the site of a long-vacant restaurant in Middletown, where it has proposed building more than 21,000 square feet of new retail space in its place.
The firm, Devimy Equities, recently acquired the shuttered Steak and Ale property at 1287 Route 35 in Middletown, in a deal arranged by Jeffery Realty. Alan Walker of the retail brokerage firm represented River Birch LLC in the sale, while also procuring the developer as the buyer.
Published reports say Robert Indig, managing partner of Lakewood-based Devimy, has proposed razing the 5,849-square-foot restaurant and redeveloping the site with two standalone retail buildings totaling 21,505 square feet. According to the Two River Times, the first building would span 10,000 square feet and house a day care center known as The Learning Experience.
At the time of the story, in early July, the developer had commitments for the second building from Mavis Discount Tire and Dunkin’ Donuts.
“We’re going to vastly improve it aesthetically,” Indig told the publication. “It’s going to be a nice ratable for the town.”
